Enbridge (TSE:ENB) Cut to “Neutral” at JPMorgan Chase & Co.

JPMorgan Chase & Co. cut shares of Enbridge (TSE:ENB) (NYSE:ENB) from an overweight rating to a neutral rating in a research note published on Tuesday,BayStreet.CA reports. They currently have C$69.00 price target on the stock, down from their prior price target of C$74.00.

Several other analysts also recently weighed in on ENB. National Bankshares lifted their price objective on Enbridge from C$66.00 to C$71.00 and gave the company a “sector perform” rating in a report on Wednesday, December 17th. Raymond James Financial upped their price target on shares of Enbridge from C$74.00 to C$76.00 in a research report on Monday, November 10th. Royal Bank Of Canada increased their price objective on shares of Enbridge from C$67.00 to C$72.00 in a research note on Monday, November 10th. Jefferies Financial Group reduced their price objective on shares of Enbridge from C$73.00 to C$71.00 in a research note on Tuesday, December 23rd. Finally, CIBC dropped their target price on Enbridge from C$71.00 to C$69.00 in a research report on Wednesday, December 17th. One equities research analyst has rated the stock with a Strong Buy rating, five have given a Buy rating and five have assigned a Hold rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of C$71.31.

Enbridge Stock Performance

Enbridge stock opened at C$66.43 on Tuesday. The company has a debt-to-equity ratio of 144.86, a quick ratio of 0.44 and a current ratio of 0.62. The company has a market capitalization of C$145.02 billion, a PE ratio of 26.05, a P/E/G ratio of 1.72 and a beta of 0.90. The company has a 50 day moving average price of C$65.52 and a 200-day moving average price of C$65.88. Enbridge has a fifty-two week low of C$56.51 and a fifty-two week high of C$70.39.

Enbridge (TSE:ENB) (NYSE:ENB) last announced its quarterly earnings data on Friday, November 7th. The company reported C$0.46 earnings per share (EPS) for the quarter. The company had revenue of C$14.64 billion for the quarter. Enbridge had a return on equity of 10.30% and a net margin of 13.75%. As a group, equities analysts forecast that Enbridge will post 3.511912 earnings per share for the current year.

Enbridge Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Monday, December 1st. Investors of record on Monday, December 1st were given a dividend of $0.9425 per share. This represents a $3.77 annualized dividend and a yield of 5.7%. The ex-dividend date of this dividend was Friday, November 14th. Enbridge’s dividend payout ratio is currently 146.76%.

Enbridge Company Profile

At Enbridge, we safely connect millions of people to the energy they rely on every day, fueling quality of life through our North American natural gas, oil and renewable power networks and our growing European offshore wind portfolio. We’re investing in modern energy delivery infrastructure to sustain access to secure, affordable energy and building on more than a century of operating conventional energy infrastructure and two decades of experience in renewable power. We’re advancing new technologies including hydrogen, renewable natural gas, and carbon capture and storage.